Incorporated in 1972, General Insurance Corporation of India is the largest reinsurance company in India in terms of gross premiums. They provides various general insurance products like property, energy, marine, engineering, miscellaneous, aviation-hull/spares-rotor wing, aviation-hull/spares-fixed wing, liability, aviation treaty–hull, spares and liability insurance products. They also offers cargo and offshore energy, motor, life, agriculture, space, health, credit and financial insurance.
They offers reinsurance solutions for the Afro-Asian region and reinsurance programs in South East Asia, the Middle East and Africa. They develop their overseas business through their home office in Mumbai, branch offices in London, Dubai and Kuala Lumpur, a representative office in Moscow, a subsidiary in the United Kingdom that is a member of Lloyd’s of London and a
subsidiary in South Africa.
1. Leader in Indian reinsurance industry with 44 years of experience
2. International presence
3. Diversified product portfolio and revenue streams
4. Strong financial track record and a strong balance sheet
5. Experienced management team
The Promoter of the company is President of India, acting through the Ministry of Finance.
|Particulars||For the year/period ended (in Rs. million)|
|Profit After Tax||28,578.52||26,549.18||28,026.85||23,218.42||22,888.64|
The Offer comprises of the Fresh Issue and the Offer for Sale.
1. Offer for Sale
Corporation will not receive any proceeds from the Offer for Sale.
2. Fresh Issue
Corporation proposes to utilize the Net Proceeds from the Fresh Issue towards:
(i) Augmenting the capital base of the Corporation to support the growth of their business and to maintain current solvency levels; and
(ii) General corporate purposes.
»» Issue Open: Oct 11, 2017 - Oct 13, 2017
»» Issue Type: Book Built Issue IPO
»» Issue Size: 124,700,000 Equity Shares of Rs 5 aggregating up to Rs 11,372.64 Cr
› Fresh Issue of 17,200,000 Equity Shares of Rs 5 aggregating up to Rs [.] Cr
› Offer for Sale of 107,500,000 Equity Shares of Rs 5 aggregating up to Rs [.] Cr
»» Face Value: Rs 5 Per Equity Share
»» Issue Price: Rs 855 - Rs 912 Per Equity Share
»» Market Lot: 16 Shares
»» Minimum Order Quantity: 16 Shares
»» Listing At: BSE, NSE
|Number of Times Subscribed (BSE + NSE)|
|As on Date & Time||QIB||NII||RII||Employee||Total|
|Shares Offered / Reserved||62,277,900||18,683,371||43,594,532||144,197||124,700,000|
|Day 1 - Oct 11, 2017 17:00 IST||1.5500||0.0100||0.0600||0.1300||0.8000|
|Day 2 - Oct 12, 2017 17:00 IST||1.6800||0.0200||0.1600||0.4200||0.9000|
|Day 3 - Oct 13, 2017 20:50 IST||2.2500||0.2200||0.6300||0.9400||1.3800|
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